Azerbaijani population increases savings in banks by quarter in 2013
Baku, Azerbaijan, Feb. 9
By Emin Aliyev - Trend:
As of 2013, the depositary base of Azerbaijani banks increased by 16.6 percent per annum, the Azerbaijani Central Bank's (CBA) statistics report said on Feb. 8.
As of December 1, the total amount of bank deposits and deposits of physical and legal entities totaled 12.475.8 billion manat compared to 10.699.2 billion manat as of late 2012, according to the CBA.
Around 6.410.9 billion manat fell to cash in manat, of which 2.326.6 billion manat - demand deposits, 4.084.3 billion manat - term deposits. The funds in foreign currency amounted to 6.064.9 billion manat (1.441.7 billion manat and 4.623.2 billion manat, respectively).
The deposits of physical entities increased by 25.08 percent, while the volume of legal entities' deposits slightly increased by 8.85 percent compared to 2012.
As of 2013, the volume of physical entities' deposits in the banks amounted 6.395.8 billion manat compared to 5.113.4 billion manat in 2012.
Around 3.888.3 billion (60.8 percent) of the population's funds were placed in the national currency - manat, while 2.507.5 billion manat - in freely convertible currency, according to the Central Bank.
The Azerbaijani population's deposits in the national currency in the banks prevailed those in foreign currency in 2013. For comparison, around 2.963.9 billion manat of the population's funds were placed in the national currency - manat, while 2.149.6 billion manat - in freely convertible currency as of 2012.
As of 2013, the volume of deposits of financial institutions amounted 3.261.5 billion manat compared to 2.783 billion manat as of 2012.
The volume of deposits of non-financial institutions totaled 2.818.4 billion manat compared to 2.802.9 billion manat as of 2012.
The total deposits of legal entities totaled 6.080 billion manat compared to 5.585.8 billion manat as of 2012.
There are 43 banks in Azerbaijan, of which 42 banks are members of the Azerbaijan Deposit Insurance Fund.
The official exchange rate is 0.7843 AZN/USD on Feb. 9.
Translated by N.H.